(Bloomberg) — Boeing Co. got downgraded by Moody’s Investors Service as the grounding of the 737 Max plane extends into next year, jeopardizing the company’s financial future.Moody’s cut Boeing one level to A3, four levels above speculative grade, noting the uncertainty around when the company’s best-selling aircraft will return to service, analyst Jonathan Root said in a report Wednesday. The suspension will increase Boeing’s program costs as well as airlines’ and lessors’ claims for compensation, not to mention a potentially more lasting reputational risk, Root said.Boeing plans to halt production next month of the 737 Max, which has been grounded …read more
Source:: Yahoo Finance
